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2008: GREAT RECESSION #worldhistory #globalevents #GreatRecession #FinancialCrisis #economy Lehman Brothers collapsed with $613 billion in debt, exacerbating an economic recession primarily caused by a United States housing market crash. The American government subsequently issued bailouts under the Troubled Asset Relief Program, and by October of 2009, the unemployment rate had reached 10.0%. | The Historical Timeline
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